the information for the months was only shown here
At December 31, 2017, Grouper Corporation reported the following plant assets. $3,783,000 Land $26,570,000 Buildings Less: Accumulated depreciation-buildings 15,037.425 11,532.575 50,440,000 Equipment Less: Accumulated depreciation-equipment 6,305000 44,135,000 $59450,575 Total plant assets During 2018, the following selected cash transactions occurred Purchased land for $2.774.200. Apr. 1 May L 1 Sold equipment that cost $756.600 when purchased on January 1.2011. The equipment was sold for $214370. Sold land for $2,017,600. The land cost $1.261,000. 1 June Purchased equipment for $1,387,100. Retired equipment that cost $882.700 when purchased on December 31, 2008. No salvage value was received. July 1 Dec. 31 Journalize the transactions. Grouper uses straight-line depreciation for buildings and equipment. The buildings are estimated to have a 40-y life and no salvage value; the equipment is estimated to have a 10-year useful life and no salvage value. Update depreciation on assets dispos the time of sale or retirement. (Record entries in the order displayed in the problem statement. Credit account titles are automatically indented wher s entered. Do not indent manually.If no entry is required, select "No Entry" for the account titles and enter O for the amounts) Credit Debit Account Titles and Explanation Date 2774200 April 1 Land 2774200 Cash Depreciation Expense May 1 Journalize the transactions. Grouper uses straight-line depreciation for buildings and equipment. The buildings are estimated to have a 40-year useful life and no salvage value; the equipment is estimated to have a 10-year useful life and no salvage value. Update depreciation on assets disposed of at the time of sale or retirement. (Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when amount ls entered. Do not indent manually.If no entry is required, select "No Entry" for the account titles and enter O for the amounts) Debit Credit Account Titles and Explanation Date 2774200 April 1 .| |Land 2774200 Cash 1Depreciation Expense Accumulated Depreciation-Equipment (To record depreciation on equipment sold) 214370 Cash Accumulated Depreciation-Equipment Equipment Gain on Disposal of Plant Assets lune 1 Cash Land Gain on Disposal of Land July 1 '11 Equipment Cash Dec. 31Accumulated Depreciation-Equipment Accumulated Depreciation-Equipment To record depreciation on equipment retired) Accumulated Depreciation Equipment List of Accounts Prepare the plant assets section of Grouper's balance sheet at December 31.2018.(Hint You may wish to set up T accounts,post beginning balances and then post 2018 transactions.) (List Plant Assets in order of Lond, Building and Equipment.) GROUPER CORPORATION Partial Balance Sheet For the Month Ended December 31, 2018 Plant Assets Land Buildings Less Accumulated Less Total Plant Assets eTextbook and Media List of Accounts At December 31,2017, Grouper Corporation reported the following plant assets. $3,783,000 Land $26,570,000 Buildings Less: Accumulated depreciation-buildings 15,037425 11,532,575 50,440,000 Equipment Less: Accumulated depreciation-equipment 6.305,000 44,135,000 $59.450,575 Total plant assets During 20 8, the following selected cash transactions occurred Apr. 1 Purchased land for $2.774,200. May 1 Hold equipment that cost $756,.600when purchased on January 1.2011. The equipment was sold for $214370 old land for $2.017,600. The land cost $1.261000. June 1 July 1 Purchased equipment for $1,387,100. Dec. 31 /Retired equipment that cost $882.700 when purchased on December 31, 2008. No salvage value was received. Journalize the transactions. Grouper uses straight-line depreciation for buildings and equipment. The buildings are estimated to have a 40-y life and no salvage value; the equipment is estimated to have a 10-year useful life and no salvage value. Update depreciation on assets dispos the time of sale or retirement. (Record entries in the order displayed in the problem statement. Credit account titles are automatically indented wher is entered. Do not indent manually. If no entry ls required, select "No Entry"for the account titles and enter for the amounts) Credit Debit Account Titles and Explanation Date 2774200 April 1 Land 2774200 Cash Man .1 1 DepreciationExpense
